Research: Outlook for Gbp/usd

Quotes from RBS: -GBP/USD bounced last week on a mix of better UK data and disappointing US data. The pair has moved closer to our fair value measure, but still look to be around two standard deviations cheap to fair.


-Historical positive correlations with risk have retightened as US data disappointments have seen the market reassess Fed policy expectations.


-With the global grab for yield ongoing in light of the Fed and BoJ policy actions, asset markets remain buoyant and hence can provide some further support for GBP/USD. However we remain sceptical how far GBP/USD can push higher given the weak UK fundamental backdrop.

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the usd gbp data nbsp and for

2013-4-30 11:45

Источник: news.instaforex.com

the usd → Результатов: 1 / the usd - фото


Research: Gbp Continues to be more Tightly correlated With Risk Markets

Quotes from RBS:


-GBP continues to be more tightly correlated with risk markets such as equities than yield spreads. This looks set to continue until such time as investors worry more intently about the UK's twin deficits. We see equities remaining supported by low interest rates and the continued expansion of central bank balance sheets.


-For the Fed, the only two voices on the FOMC that really matter are Yellen and Bernanke, and they look set to continue their dovish stance. Given the recent  historic correlation with equities, this suggests some support for GBP/USD.


-However, while the fiscal cliff has been avoided, discussions around the debt ceiling and spending cuts are short-term risks to market sentiment (USD positive). At the same time, the better cyclical position of the US is seen supporting the USD.

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2013-01-08 12:02

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